Biel Crystal Manufactory IPO

[winston]

IPO looking crystal clear

Biel Crystal Manufactory, the largest touchscreen supplier for Apple Inc and Samsung Electronics, plans a HK$15.6 billion share sale by the year end.

About 60 percent of iPhone cover glass is made by the SAR-based company, while it also contributes to one-third of watch glass for branded watches in Europe.

Its founder Yeung Kin-man has a net worth of HK$56.16 billion.

Biel Crystal was valued at HK$110 billion. Sales rose 25 percent to US$4 billion (HK$31.2 billion) in 2014 from a year earlier.

The company said earlier that it hopes to boost its international presence through the IPO instead of financing.

Its price-to-earnings ratio will be more than 20 times after listing.

Source: The Standard